Bank of America Lowers MINISO Group (NYSE:MNSO) to Underperform

Bank of America cut shares of MINISO Group (NYSE:MNSO) from a buy rating to an underperform rating in a report issued on Monday morning, Marketbeat Ratings reports.

Separately, JPMorgan Chase & Co. lowered their price objective on MINISO Group from $29.00 to $27.00 and set an overweight rating on the stock in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MINISO Group presently has an average rating of Hold and a consensus target price of $15.00.

MINISO Group Trading Up 10.2 %

Shares of MNSO stock opened at $15.43 on Monday. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15. MINISO Group has a 1 year low of $12.51 and a 1 year high of $28.28. The firm’s fifty day simple moving average is $15.87 and its 200 day simple moving average is $19.35. The firm has a market capitalization of $4.87 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.17.

MINISO Group (NYSE:MNSO) last released its earnings results on Friday, August 30th. The company reported $0.26 earnings per share for the quarter. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. The business had revenue of $555.26 million during the quarter, compared to analysts’ expectations of $557.54 million. As a group, sell-side analysts predict that MINISO Group will post 1.23 EPS for the current year.

MINISO Group Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a dividend of $0.274 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 1.6%. MINISO Group’s payout ratio is presently 50.00%.

Institutional Investors Weigh In On MINISO Group

Several large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in MINISO Group in the second quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in shares of MINISO Group by 3,098.4% in the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock worth $40,000 after acquiring an additional 1,890 shares in the last quarter. Headlands Technologies LLC bought a new stake in MINISO Group during the 1st quarter worth approximately $93,000. Banque Cantonale Vaudoise bought a new position in MINISO Group in the 2nd quarter valued at $118,000. Finally, Bayesian Capital Management LP acquired a new position in MINISO Group in the first quarter worth $201,000. Institutional investors own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.